The US real estate market just went from hot to a recession in a matter of weeks. The National Association of Realtors (NAR) reported existing-home sales fell for a sixth consecutive month in July. Buyers are now buying the fewest homes since the start of public health measures. NAR even went so far as to […]
Canadian mortgage rates are on the rise but the average household’s payment is growing only slightly faster than they were with low rates.
Most of Canada couldn’t buy a home even if they wanted to. National Bank of Canada (NBF) is once again sounding the alarm on housing affordability. A typical home required nearly two-thirds of a household’s income just to service the mortgage payments in Q2 2022. The quarter saw the fastest erosion of affordability in 40 […]
Fitch Ratings data shows Canada’s world-class mortgage debt won’t be as vulnerable to rate shock as countries like Australia and the UK.
Canadian real estate sales are fading quickly as interest rates rise, proving this was an issue of excess demand from too much stimulus.
Canadian real estate prices continue to grind lower as buyers sit on the sidelines. Canadian Real Estate Association (CREA) data shows the composite benchmark price fell in July. The price of a typical home fell for a fourth consecutive month, wiping out more than half the annual gain. Those massive surges in price we started […]
This week’s cheat sheet includes how Canada eliminated its real estate bubble with data revisions, and experts forecast bigger declines.
The Bank of Canada is telling the public they know higher rates are “difficult,” but ultimate leads to a lower cost of living.
Yet another Canadian financial institution thinks real estate is worse than we think. Desjardins made a sharp downward revision to its forecast for Canadian real estate prices. The revision comes after fundamentals eroded faster than expected, already hitting their previous forecast price drop. By the end of next year, they see the average home price […]
Canada’s real estate bubble suddenly disappeared with a new revision to how it measures prices. It hit another bubble with that method too.